上半年对外经济部门体检报告：经常项目顺差收窄，跨境双向投资活跃

Group 1: Current Account and Trade Balance - The current account surplus decreased by $42.3 billion year-on-year to $93.7 billion, accounting for 1.1% of GDP, down 0.5 percentage points[2] - The service trade deficit increased from $90.3 billion to $123 billion, primarily due to a 37% rise in travel expenditures to $120.5 billion, reflecting a recovery in cross-border travel demand[2] - The goods trade surplus remained stable, increasing by $1.8 billion to $288.4 billion, marking the second-highest level for the same period historically[2] Group 2: Foreign Investment Trends - Net foreign investment inflow improved, rising from $15.6 billion to $91.7 billion, driven by a shift from net outflow in securities investment to a net inflow of $69.1 billion[2] - Debt investment saw a net inflow of $25.6 billion, reversing a net outflow of $78.9 billion from the previous year, indicating a strong interest in domestic bonds[4] - Equity investment net outflow decreased from $75.3 billion to $23 billion, influenced by the continued weakness in A-shares[4] Group 3: Outward Investment Dynamics - Outward investment net outflow increased by $87.2 billion to $214.4 billion, with significant contributions from other investments and securities investments[6] - Direct investment net outflow rose to $108.9 billion, marking a historical high for the same period[6] - The net outflow in securities investment surged from $52.4 billion to $96.9 billion, reflecting domestic investors capitalizing on overseas market gains[6] Group 4: External Debt Stability - As of June 2024, the net external debt of the private sector decreased to $465.6 billion, down $75.9 billion from the end of 2023, with a notable reduction in the debt-to-GDP ratio from 3.0% to 2.6%[17] - The proportion of domestic currency-denominated external debt reached a historical high of 49%, effectively reducing exchange rate risk[17] - The improvement in currency mismatch in the private sector since the "8.11" exchange rate reform has contributed to the resilience of the domestic foreign exchange market[17]